UK - Property outperformed all other major asset classes in 2001. And the outlook for the rest of this year continues to look rosy, figures from the Investment Property Database show.
Delegates at IPD’s annual conference heard that overall property returns in 2001 were 6.7% compared with -13.2% from equities, 1.3% from gilts and 5.5% from cash.
British Land director Nick Ritblat said: “The prospects for commercial property have rarely been so rosy. There is a mood of euphoria in the market. Property is now also the best-performing asset over three, five and nine years.”
IPD research director Mark Callenda confirmed that the future looked good for property in 2002 due to a steady flow of overseas and US investments in UK commercial property, totalling £5.7bn in 2001.
Other figures released at the conference showed that industrial property had returns of 8.2% in 2001, while office returns halved from 15.5% to 7.6%.
By Shifa Rahman
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